Free Money? - Small Business Grants Are Available in Queensland

By Joe Smith

I recently attended a seminar run by Advance Queensland which is a state government initiative that focuses on providing funding to businesses operating in Queensland.  There are several areas where businesses can receive funding which in some cases requires a matched investment by the business owners.

One matched funding grant available is the Small Business Entrepreneurs Grant which helps businesses that have been registered in the last four years and have less than 20 employees invest in professional services in areas such as financial accounting advice and tax advice, business coaching and mentoring, strategic planning and other areas.  Please note it doesn’t include the preparation of your financials and income tax returns!  The funding is issued in rounds and it is expected that the next round of funding will be opening soon so keep your eyes open for it!

The seminar I attended was for the Ignite Ideas Fund which supports the development of new or improved products, processes or services to secure investment, launch into global markets and grow businesses.  This fund has grants of up to $250,000 available which is a significant amount and as such there are strict criteria to meet and if met an application is assessed by an external panel to determine if the application is to be accepted.

If you have a highly innovative new product or service that is at minimum a viable product or is at market ready stage then this grant may be of great assistance to you.  Evidence of demand or support from identified customers, industry partners and/or investors is another eligibility requirement as well as having the business skills and financial capacity to successfully deliver the project.  The final box to be ticked for this grant is that the project should have the potential to achieve high growth and benefit Queensland’s economy.

There is also a Digital Grants program with matched funding up to $10,000 that is due to open soon for the next round of funding.

If you are interested in applying or any of these grants or would like more information, please call us at Sothertons Gladstone on 4972 1300 or email sothertons@sothertonsgld.com.au to find out if you may be eligible for these or other grants!